Flatev closes second seed round

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In its newsletter flatev announced today the closing of a seed round. The start-up, developing a fully automatic tortilla machine, raised CHF600k. In addition flatev has nominated current advisor and investor Tonio Meier to join the Board of Directors.

Flatev is expanding on the global trend of offering individual portions in capsules or cups. Its revolutionary preparation system allows for the quick and effortless preparation of tortillas and other flatbreads. The preparation system starts with a fully automatic tortilla machine and the corresponding dough-capsules, which enable anyone to make a wide variety of traditional fresh tortillas in an easy and fun way. The machine can already be pre-ordered on the website of the start-up.

In its current newsletter the company announced the closing of a second seed round totalling CHF600,000. After solidifying the first 90% of the investment, the start-up founders wanted to give their friends and colleagues an opportunity to supply the remaining 10% and close the round. By posting the opportunity on their personal Facebook and LinkedIn accounts, they secured the rest of the funding and were overwhelmed by additional inquiries to invest (far exceeding the goal of CHF600'000).

The team writes. “We are proud to announce that, next to the Brazilian, French and Swiss investors from last year’s round, our family has grown more diverse, adding shareholders from Australia, Canada, Colombia, Mexico and the USA.”

In addition flatev announced that current advisor and investor Tonio Meier has been nominated to join the Board of Directors. Tonio Meier is currently Chief Customer Officer and member of the Executive Management Board at Orange Switzerland, one of Switzerlands top three telco operators. With his expertise Tonio will support flatev in strategic planning as well as developing corporate governance. Furthermore he will be engaged in building flatev's strategic partnerships and help to set up distribution and customer care on the way to market entry.